Commonwealth Financial Services Lowers stake in Reynolds American (RAI)

Reynolds American (RAI) : Commonwealth Financial Services reduced its stake in Reynolds American by 28.92% during the most recent quarter end. The investment management company now holds a total of 9,093 shares of Reynolds American which is valued at $451,013 after selling 3,699 shares in Reynolds American , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Reynolds American makes up approximately 0.67% of Commonwealth Financial Services’s portfolio.

Reynolds American opened for trading at $49.79 and hit $50.36 on the upside on Monday, eventually ending the session at $49.63, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 38,23,588 shares. Company has a market cap of $70,839 M.

Other Hedge Funds, Including , Malaga Cove Capital sold out all of its stake in RAI during the most recent quarter. The investment firm sold 6,266 shares of RAI which is valued $310,794.New York State Teachers Retirement System reduced its stake in RAI by selling 23,696 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 1,563,377 shares of RAI which is valued at $74,776,322. Reynolds American makes up approx 0.19% of New York State Teachers Retirement System’s portfolio.Highland Capital Management boosted its stake in RAI in the latest quarter, The investment management firm added 2,699 additional shares and now holds a total of 78,880 shares of Reynolds American which is valued at $3,844,611. Reynolds American makes up approx 0.33% of Highland Capital Management’s portfolio.Horizon Kinetics reduced its stake in RAI by selling 828 shares or 4.95% in the most recent quarter. The Hedge Fund company now holds 15,900 shares of RAI which is valued at $774,966. Reynolds American makes up approx 0.02% of Horizon Kinetics’s portfolio.

On the company’s financial health, Reynolds American reported $0.50 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $0.50. The company had revenue of $2917.00 million for the quarter, compared to analysts expectations of $2936.11 million. The company’s revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on Reynolds American. Company shares were Reiterated by RBC Capital Mkts on Mar 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 57 from a previous price target of $53 .

Reynolds American Inc. (RAI) is a holding company. The Company operates through three segments: RJR Tobacco American Snuff and Santa Fe. The RJR Tobacco segment consists principally of the primary operations of R. J. Reynolds Tobacco Company. The American Snuff segment consists of the primary operations of American Snuff Co. The Santa Fe segment consists of the domestic operations of Santa Fe Natural Tobacco Company Inc. (SFNTC). The Company’s wholly owned subsidiaries include R. J. Reynolds Tobacco Company American Snuff Company LLC (American Snuff Co.) Lorillard Inc. Santa Fe Natural Tobacco Company Inc. (SFNTC) R. J. Reynolds Vapor Company (RJR Vapor) Niconovum USA Inc. and Niconovum AB.

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